In Q4 of 2015-16, the company’s net profit for the quarter increased from Rs. 95.88 crores in corresponding period last year to Rs 107.64 crore in FY’16 showing an increase of 12%.ETEnergyWorld | May 14, 2016, 08:05 IST

New Delhi | May 13:Indraprastha Gas Limited (IGL) the supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in the National Capital Territory of Delhi, Noida, Greater Noida & Ghaziabad today announced its Q4 results and audited financial results for 2015-16.

In Q4 of 2015-16, the company’s net profit for the quarter increased from Rs. 95.88 crores in corresponding period last year to Rs 107.64 crore in FY’16 showing an increase of 12%, IGL said in a statement.

During this period, IGL registered a turnover of Rs. 976 crore as compared to Rs. 1007 crore in the corresponding period last year.

However, there has been an overall sales volume growth of 8% over the corresponding quarter in the last fiscal, with CNG sales volume growing by 5% and PNG sales volume growing by 9%.

The company’s gross turnover has grown to Rs. 4052 crores in FY 16 from Rs. 4048 crores in FY 15.

However, the net profit in FY 16 showed a decline of 5 % from Rs 437.73 crores in FY 15 to Rs. 416.2 crores in FY 16 due to lower realisations and overall increase in cost.

During 2015 - 16, total sales volume grew by 4% over the previous year with both CNG as well as PNG segments recording 4% volume growth.The average daily gas sale during the year has gone up to 4 mmscmd from 3.85 mmscmd in the previous year.

The board has recommended a dividend of 60% for consideration of the members in Annual General Meeting.

After consolidating the financial results of two associate companies, CUGL & MNGL, the consolidated net profit after tax of the company comes to Rs 464.13 crores against consolidated profit of Rs 448.13 crores in the previous year, the statement added.

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The ongoing field development and EOR/IOR projects are expected to produce a cumulative of 54.6 million tonne (mt) of crude oil and 114 billion cubic meter (bcm) of natural gas in the next three to four years, the report said.